← 2301 Private Rd 7320 (Mobile Home Park), Lubbock, TX 79423 · All properties

UPDATES.md

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Property2301 Private Rd 7320 (Mobile Home Park), Lubbock, TX 79423
FolderREADME & Property Snapshot
KindText
Updated2026-07-11
Dropbox path00 - README & Property Snapshot/UPDATES.md

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Property Updates ## 2026-04-29 - Property Update (04/29/2026): - Owner-Proposed Governance Vote for 2301 Private Rd 7320: - The property manager, Whalec Property Management with the following [wallet address](https://allo.info/account/6GRLZ5EIUWKYPMJ7PYSPMR5DG2ZMZAWAK6TLQAJR7G2BTXEPFVXFKNVWHQ), is proposing a governance vote. - This owner holds 630 tokens in this property. - The owner's reasoning is below, word-for-word: - *Because this is an owner proposed vote, Lofty cannot change the conten

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# Property Updates

## 2026-04-29

- Property Update (04/29/2026):
- Owner-Proposed Governance Vote for 2301 Private Rd 7320:
    - The property manager, Whalec Property Management with the following [wallet address](https://allo.info/account/6GRLZ5EIUWKYPMJ7PYSPMR5DG2ZMZAWAK6TLQAJR7G2BTXEPFVXFKNVWHQ), is proposing a governance vote.
    - This owner holds 630 tokens in this property.
    - The owner's reasoning is below, word-for-word:
    - *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
    - Governance Vote: Proposed Sale of 2301 Private Rd 7320 (Lubbock, TX)
    - Asset: 2301 Private Rd 7320 (Mobile Home Park)
    - Entity: Raspberry LFTY0421 DAO LLC
    - Authorized Representative: Alec VanBeek / Whalec Property Management LLC
    - Executive Summary
    - This governance vote proposes the immediate liquidation of the property located at 2301 Private Rd 7320, Lubbock, TX. The objective is to protect DAO capital from high-interest debt accumulation and physical infrastructure liabilities by exiting the asset immediately.
    - Rationale for Sale
    - Financial Urgency (High-Interest Debt): The property is currently burdened by a compounding second lien growing at 18% interest. If the asset is not sold promptly, the debt load risks eclipsing owner equity, and the lienholder may choose to initiate foreclosure proceedings.
    - Infrastructure Liability: The park has documented septic issues requiring an estimated $20,000+ in immediate repairs. The density of the park makes these repairs physically difficult to execute and increases the likelihood of future failures.
    - Strategic Exit: We have a qualified lead from an experienced buyer who owns multiple parks in Lubbock. Selling now protects the DAO’s interests while the primary loans are still in good standing.
    - Incentive Alignment: As a major stakeholder holding over 800 tokens, Alec VanBeek is personally incentivized to secure the highest possible cash-out value for all token holders.
    - Authorization & Execution
    - By voting YES, the DAO grants Alec VanBeek and Whalec Property Management LLC full and final authority to negotiate, finalize, and execute the sale of 2301 Private Rd 7320 at the highest possible token price. No further governance votes will be required to approve the final sale price or closing terms once this resolution passes.
    - Voting Options
    - YES: Authorize Alec VanBeek / Whalec Property Management LLC to sell the property at the highest attainable price to stop the 18% compounding interest, avoid potential foreclosure, and exit the asset without further DAO intervention.
    - NO: Do not sell the property. The DAO will retain the asset, assume the $20,000+ repair costs, and continue to carry the 18% compounding second lien despite the risk of foreclosure.
    - Thanks,
    - Alec VanBeek
    - Whalec Property Management LLC
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, May 5th, once the voting period ends.

## 2026-04-29

- Property Update (04/29/2026):
- Governance Results for 2301 Private Rd 7320:
    - The Governance Voting results are back for the owner-proposed vote.
    - The winning vote is:
    - YES: Authorize Alec VanBeek / Whalec Property Management LLC to sell the property at the highest attainable price to stop the 18% compounding interest, avoid potential foreclosure, and exit the asset without further DAO intervention.
    - This was voted on by 22 participants in total. Out of the total number of participants, 19 voted for the winning vote, totaling 97.55% of the voting power. This is a co-ownership property, which means the governance mechanism used the scaled governance calculations as opposed to the default of 1 token equals 1 vote.
    - The voting results can be found on chain [here](https://allo.info/application/3545534374) or by searching the application ID: 3545534374

## 2025-11-08

- Property Update (11/08/2025):
- Note from Whalec Property Management:
    - Ryan updates:
    - Here are a few updates for Private Road:
    - 1. Alec, has been diligently working on updating leases and raising the rents for each of the lots. Lot rents will be around $350 moving forward.  
    - 2. We are waiting to hear back from a few of the tenants about if they will renew their leases. 
    - 2a. If Clement (tenant) at lot 2 wants to give up his vacant lot, we are looking to acquire a home to renovate on the premise. 
    - 2b.  Lot 7 and 14 will most likely have evictions at the end of this week, but waiting to hear back from them and the lawyers. They might try to structure a payment plan. 
    - 3. We are waiting to hear what lot 13 wants to do. They are paying for the lot, but there is no home there. If they decide to NOT renew their lease, we will work on filling that lot as well. 
    - 4. With lot 2, we will need to look into the drainage system since we have heard from tenants of that lot floods whenever there is rain. 
    - 5. Current plan is for my team to be out in Lubbock this weekend, but is still being finalized.

- Updates from Whalec Property Management LLC:
    - The tenant on Lot 1 sold their trailer and moved out
    - All trailers are now current on rent except Lot 7 which is making catchup payments
    - Lot 14 have been served notice to vacant at they are unathorized to the on the lot
    - We are working to renew all lease out of Thundersun name beginning Dec 1st for leases that have expired and increase rents slightly.

- Note from Whalec Property Management:
    - "Collections were down in August and September but we are cash flowing slightly in September. P&L uploaded into dropbox today. We have served multiple eviction notices and working with local PM to expedite these. We have secured help from Wheel Estate Rescue LLC to help out with trailer renovations."
    - [September 2025 P&L](https://www.dropbox.com/scl/fi/7ptc24ecbr98crsiwauyv/2301-Private-Road-7320-P-L-September-2025.pdf?rlkey=qaisjtzt1uory4eaw7l8l6c78&e=1&st=2nxblrfl&dl=0)

## 2025-09-19

- Property Update (09/19/2025):
- Note from Whalec Property Management:
    - "Collections were down in August and September but we are cash flowing slightly in September. P&L uploaded into dropbox today. We have served multiple eviction notices and working with local PM to expedite these. We have secured help from Wheel Estate Rescue LLC to help out with trailer renovations."
    - [September 2025 P&L](https://www.dropbox.com/scl/fi/7ptc24ecbr98crsiwauyv/2301-Private-Road-7320-P-L-September-2025.pdf?rlkey=qaisjtzt1uory4eaw7l8l6c78&e=1&st=2nxblrfl&dl=0)

## 2025-07-14

- Property Update (07/14/2025):
- Governance Results for 2301 Private Rd 7320:
    - The Governance Voting results are back for the owner-proposed vote.
    - The winning vote is:
    - YES – Approve
    - This was voted on by 30 participants in total. Out of the total number of participants, 30 voted for the winning vote, totaling 100% of the voting power. This is a co-ownership property, which means the governance mechanism used the scaled governance calculations as opposed to the default of 1 token equals 1 vote.
    - The voting results can be found on chain [here](https://allo.info/application/3117785145) or by searching the application ID: 3117785145

## 2025-07-11

- Property Update (07/11/2025):
- Owner-Proposed Governance Vote for 2301 Private Rd 7320:
    - The property manager, Whalec Property Management with the following [wallet address](https://allo.info/account/6GRLZ5EIUWKYPMJ7PYSPMR5DG2ZMZAWAK6TLQAJR7G2BTXEPFVXFKNVWHQ), is proposing a governance vote.
    - This owner holds 138 tokens in this property.
    - The owner's reasoning is below, word-for-word:
    - *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
    - Governance Vote: Urgent Debt Payment for 2301 Private Rd 7320 (Mobile Home Park), Lubbock, TX 79423
    - Property:
    - 2301 Private Rd 7320 (Mobile Home Park)
    - Lubbock, TX 79423
    - Vote Date:
    - Proposed on: Friday July 11th, 2025
    - Effective Date of Payment: Monday, July 14, 2025
    - TL;DR
    - Approve Alec VanBeek / Whalec Property Management LLC to pay the full mortgage debt of $63,486.73 in cash (covering $50,000 principal and $13,486.73 interest) on behalf of the DAO.
    - Alec will receive a minimum of 1,000 tokens from the debt escrow wallet, with remaining tokens for interest owed to be paid by Austin Hughes.
    - This payment is critical to avoid default, penalties, foreclosure, and legal risk.
    - Background & Risk Context
    - Austin Hughes (the seller and borrower under the loan) is unable to pay the amount due on Monday, July 14, 2025, per the executed Promissory Note.
    - What Happens If the Loan Is Not Paid by July 14, 2025?
    - Immediate Default
    - If payment is more than 3 days late, the loan is considered in Default.
    - Lender may accelerate the loan, requiring immediate full repayment without notice.
    - 18% Interest Rate Triggers
    - Interest rate increases from 12% to 18% annually.
    - This adds $20.95/day in new daily costs.
    - Late Fee
    - After 10 days late, a 5% fee is applied to the $50,000 principal = $2,500.
    - Legal and Collection Risk
    - Borrower is responsible for attorney’s fees and court costs if collection begins.
    - The loan is secured by a lien on the land, putting the mobile home park at risk of foreclosure.
    - No Obligation for Lender to Warn
    - The lender may pursue full recovery and enforcement without any further notice.
    - Governance Impact
    - Failure to act puts the DAO at significant financial and legal risk:
    - Triggering of high interest and penalty fees
    - Risk of lien enforcement and loss of property
    - Exposure to legal action and collection
    - Damage to DAO investment and reputation
    - Paying the loan now eliminates these risks and protects DAO ownership.
    - Proposal Summary
    - Full Payment
    - Alec VanBeek / Whalec Property Management LLC will pay:
    - Principal: $50,000
    - Accrued Interest: $13,486.73
    - Total: $63,486.73 (cash)
    - Due Date: Monday, July 14, 2025
    - Token Compensation
    - Alec shall receive:
    - Minimum 1,000 tokens from the debt escrow wallet (for principal)
    - Remaining interest tokens ($13,486.73 worth) to be paid by Austin Hughes
    - Execution & Risk Mitigation
    - Immediate payment prevents default
    - Removes lien from the property
    - Protects DAO assets and legal standing
    - YES – Approve
    - Authorize full payment of $63,486.73 by Alec VanBeek / Whalec Property Management LLC.
    - Release 1,000 tokens from the debt escrow wallet to Alec.
    - Require Austin Hughes to remit additional tokens for interest.
    - Protect DAO from penalties, foreclosure, and legal action.
    - NO – Reject
    - Do not approve loan payoff.
    - Expose DAO to default penalties, interest accrual, legal risk, and loss of property control.
    - Questions or Comments?
    - Please DM @Whalec on the Lofty Discord with any questions, concerns, or clarifications regarding this proposal.
    - Thank You
    - Thank you for reviewing and voting to protect the DAO’s financial health and ownership position on this key mobile home park asset.
    - Alec VanBeek / Whalec Property Management LLC
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Monday, July 14th, once the voting period ends.

## 2025-07-01

- Property Update (07/01/2025):
- Governance Results for 2301 Private Rd 7320:
    - The Governance Voting results are back for the owner-proposed votes.
    - The first winning vote is:
    - Vote Yes to transition to Whalec Property Management.
    - This was voted on by 24 participants in total. Out of the total number of